California Pizza Kitchen suffers loss in fiscal 2010

Feb. 11, 2011
-
by Eric Schroeder

Share This:

LOS ANGELES — Despite a year-over-year improvement in fourth-quarter earnings, California Pizza Kitchen sustained a loss of $406,000 in the year ended Jan. 2. The loss compared with income of $4,581,000, equal to 19c per share on the common stock, in fiscal 2009. Net sales in fiscal 2010 totaled $642,231,000, down 3% from $664,686,000 in fiscal 2009.

For the fourth quarter ended Jan. 2, California Pizza Kitchen posted income of $440,000, or 2c per share, which compared with a loss of $9,900,000 in the same period a year ago. Net sales in the quarter fell 6% to $157,942,000.

“In 2011, we are strategically focused on enhancing our brand and evolving our menu to drive traffic and further differentiate California Pizza Kitchen from its casual dining competitors. As part of that effort, we are also targeting margin improvement by streamlining our menu and implementing a series of productivity initiatives.”

During the fourth quarter the company opened full-service restaurants in Bridgewater, N.J.; Pittsburgh; Tucson, Ariz.; and Shanghai.

Comment on this Article

The views expressed in the comments section of Baking Business News do not reflect those of Baking Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.
Enter code as it is shown (required):